KULR Technology Group, Inc.
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Report Link: Initial Research Report (Dated 11/30/2020)
Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: $2.50
Time Horizon: 12 Months
Rating Established: November 30, 2020
Price When Established: $1.44
Most Recent Report: November 30, 2020
Price When Issued: $1.44
KULR Provides Thermal Management Design Services to Global Aerospace and Defense Manufacturer
On January 7, 2021, KULR Technology Group, Inc. (OTC: KULR) announced it has provided thermal management design services to a global Tier-1 manufacturer of aerospace and defense technology to improve thermal subsystems needed for increased performance of hypersonic weapons.
KULR's advanced phase-change heatsink design services will assist the manufacturer in the design of hypersonic weapons with longer range and larger kinetic power than existing systems, which are limited by their inability to disperse heat.
KULR Completes Capital Raise, Issues Preliminary 4Q/20 Revenue
On January 6, 2021, KULR Technology Group, Inc. (OTC: KULR) announced the completion of an $8 million registered direct offering. The company has allocated the net proceeds to expand its product portfolio, pursue commercial growth opportunities, and repay short-term debt obligations. With an increase in shareholder’s equity and float, KULR expects the financing will help advance its up-listing objective, applications for which are currently underway.
Based on an initial review of its performance, KULR anticipates 4Q20 revenue to be in the range of $200,000 to $250,000, compared to 4Q19 revenue of $53,000.
Taglich Brothers projected 4Q20 revenue of $400,000.
KULR’s Battery Safety Technology Validated by Naval Surface Warfare Center
On December 10, 2020, KULR Technology Group, Inc. (OTC: KULR) highlighted a report conducted by the Naval Surface Warfare Center Carderock Division (NSWCCD) on the company’s battery safety technology. The report confirms that KULR’s thermal management solutions can prevent cell-to-cell propagation.
The NSWCCD report, titled, "Emerging Energy Storage Technologies," was commissioned and released by the Consumer Product Safety Commission and states that: "Incorporating a vaporizing heat sink from KULR could lead to significant mass savings and … was capable of preventing cell-to-cell propagations. … [battery] packs assembled and tested at NSWCCD with the KULR material (the Thermal Runaway Shield or TRS) were found to be highly effective at resisting cell-to-cell propagation when a trigger cell was externally heated to failure. Meanwhile, identical cells with identical configuration but no TRS underwent a complete cell-to-cell propagation under the same test conditions."
Conditions such as extreme heat, bumping and jostling, short circuit, constant high-demand use, or physical damage can cause a single battery cell in a multi-cell pack to fail. When this happens, the fire and heat of that single failure often trigger failure in neighboring cells. This causes a dangerous chain reaction that causes high energy fires and explosions. According to the NSWCCD report, it is these types of runaway or propagation risks that KULR’s solutions are capable of preventing.
KULR Technology Group, Inc., headquartered in Campbell, California, develops and commercializes high-performance thermal management technologies for batteries, electronics, and other components.
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